2pm update - intra-day bounce WEAK

So far, the market is a lot weaker than even many of the permabears must have been looking for. With just two hours left of the trading week, the market is unable so far to bounce more than 5pts off the sp'1368 low.

The hourly 10MA of 1380 will be primary resistance this hour, and by the close, it should be in the 1377/75 range - so, mid' 1370s for the close today, would be a very reasonable closing level.


Sp'60min

Vix'60min

VIX is certainly up, but nothing too exciting yet. I guess the 'fun' will have to wait until Monday at least. Until VIX breaks 21, the bears can't get too excited.

Lets get one thing clear...there can be no excuses right now,.. .the daily H/S pattern is gradually being confirmed....who wants to be long across the weekend?

No...I didn't think so.